GBPUSD under pressure after the earlier downward reversal from the resistance area lying between the key resistance level 1.29650 (which was set as the likely upward target in our earlier forecast for this instrument) and the upper daily Bollinger Band. Given the strong bearish Sterling sentiment seen across the markets – GBPUSD is likely to remain under the bearish pressure and to extend the losses toward the next support level 1.27700 (former monthly high from June)